# Florida's Tax Cut Plan Relies on Population Growth Declining migration threatens tax revenue projections. - **Source:** [Fortune](https://fortune.com) - **Published:** 2026-07-15 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/d2925c71-7f3e-4c29-8df9-a7516ddf9333 ## Florida's Growth Dynamics Florida has long been one of the fastest-growing U.S. states due to its warm climate, no income tax, and quality of life. But recent data shows this growth is slowing. In 2025, the population growth rate dropped to just 0.9%. ## Tax Cut Plan Details Florida's government prepared a property tax cut plan for the 2026 ballot. The homestead exemption would start at $150,000 in 2027, rising to $250,000 in 2028. The plan assumes new migrants will offset revenue losses through higher property tax payments. ## Slowing Population Growth Migration to Florida significantly decreased in 2025. Net migration from other states fell to 22,000 people, just 10% of the pandemic-era average. Rising housing costs and climate risks are among factors slowing migration. ## Demographic Shifts Deaths have outnumbered births in Florida since 2020. Additionally, anti-immigration policies at state and national levels caused a sharp decline in international migration. These trends weaken the state's growth engines. ## Regional Growth Variations While growth slows in retiree-heavy areas like Sumter and Collier, family-oriented regions like St. Johns near Jacksonville continue rapid growth. This suggests Florida's demographic appeal is changing. ## Economic Implications Slower population growth jeopardizes the tax cut plan's success. Failure to reach projected property tax revenues could lead to public service cuts. Florida's economic model needs reevaluation as migration patterns shift. ## Sources covering this story - https://fortune.com/2026/07/15/florida-tax-cut-migration-collapse/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._